Amcor plc (NYSE:AMCR) Expected to Announce Quarterly Sales of $3.35 Billion

Equities analysts expect Amcor plc (NYSE:AMCR) to announce $3.35 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Amcor’s earnings, with the highest sales estimate coming in at $3.38 billion and the lowest estimate coming in at $3.31 billion. Amcor reported sales of $3.10 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 1st.

On average, analysts expect that Amcor will report full-year sales of $13.48 billion for the current financial year, with estimates ranging from $13.11 billion to $13.87 billion. For the next year, analysts expect that the firm will report sales of $13.60 billion, with estimates ranging from $13.34 billion to $13.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Amcor.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, November 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Amcor had a net margin of 7.15% and a return on equity of 24.50%. During the same period in the previous year, the company earned $0.16 EPS.

Several brokerages have recently weighed in on AMCR. TheStreet cut shares of Amcor from a “b” rating to a “c” rating in a research report on Friday, December 10th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $13.20 price target for the company in a research report on Wednesday, December 15th. Finally, Zacks Investment Research raised shares of Amcor from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, November 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Amcor currently has an average rating of “Hold” and a consensus target price of $12.95.

Amcor stock opened at $12.37 on Friday. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.31 and a quick ratio of 0.79. Amcor has a 1 year low of $10.33 and a 1 year high of $12.92. The firm has a 50-day moving average of $11.88 and a two-hundred day moving average of $11.91.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 14th. Investors of record on Wednesday, November 24th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Tuesday, November 23rd. This is a positive change from Amcor’s previous quarterly dividend of $0.12. Amcor’s payout ratio is 80.00%.

In other Amcor news, insider Michael J. Zacka sold 147,736 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $12.02, for a total transaction of $1,775,786.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Zacka sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $11.61, for a total transaction of $1,044,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,875 shares of company stock valued at $2,822,314. 0.28% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in Amcor by 10.7% during the 2nd quarter. State Street Corp now owns 107,051,786 shares of the company’s stock valued at $1,226,813,000 after purchasing an additional 10,306,508 shares in the last quarter. Geode Capital Management LLC increased its stake in Amcor by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 28,090,729 shares of the company’s stock valued at $324,725,000 after purchasing an additional 862,033 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amcor by 10.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,929,865 shares of the company’s stock valued at $228,397,000 after purchasing an additional 1,924,057 shares in the last quarter. Invesco Ltd. increased its stake in Amcor by 4.7% during the 3rd quarter. Invesco Ltd. now owns 18,845,197 shares of the company’s stock valued at $218,416,000 after purchasing an additional 841,258 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Amcor by 10.3% during the 2nd quarter. ProShare Advisors LLC now owns 11,339,673 shares of the company’s stock valued at $129,953,000 after purchasing an additional 1,056,175 shares in the last quarter. Institutional investors and hedge funds own 38.84% of the company’s stock.

About Amcor

Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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